Let's Have Some Fun! Contest Time....Send me your photos.

Maybe it's your mantel. Or perhaps you have a knack at stringing garland along your staircase. Is your tree too pretty for words? Does your yard cause traffic jams? Maybe I'm just nosy but I'm just dieing to know how you decorate for the holidays. So I'm asking all readers of my blog, even first-time readers, to send me your digital picture of your holiday décor (inside or out) before December 17th at midnight and you will be entered into a random drawing for a $50.00 gift certificate to your favorite Monroe County restaurant. Tell your friends. Tell your family. Everyone is eligible except my competitors, i.e., Real estate agents and employees of real estate offices.

By submitting a photo, you do give me permission to publish the shot here on the my blog. Hopefully the photos will help generate some decorating ideas for those like me that are challenged by such artistic endeavors. So let’s show the world just how nicely Rochesterarians know how to deck the halls for the holidays! Entries should be submitted by e-mail to MShelsby@gmail.com but please put "Deck the Halls Contest" in the subject line.

"Let's Say Thanks" In support of our troops

I found a wonderful web site and since it is Thanksgiving week, it is an especially good time to visit it. It is designed to allow the public to send postcards to the troops overseas. The post cards were designed by school children across the country and they are adorable. You choose a design, then choose a message or write one of your own, then hit the send button. Xerox then takes care of printing the card and delivering it to our troops from all military branches on active duty around the globe. The site also will allow you to download one of the postcards so you can mail it yourself to s specific person. Check it out at: http://www.letssaythanks.com/Home1024.html And a super thanks to Emily Carpenter for pointing out this site!

Lots to be thankful for this year! I love my career in real estate and the many families I get to work with when they are buying and selling houses. And I am very thankful of my husband, for his love and his support of my career. Without him, I couldn't do what I do in real estate. As a cancer survivor, I am very thankful for my current good health. I'm thankful for Mayor Duffy and all his efforts to make Rochester an even better place. And I'm so very thankful of digital cameras so that I can take as many photos as it takes to occasionally get a good one.

And you? What are you thankful for this year?

Have a safe and fun holiday.

What's all the Twitter About Twitter?

Do you twitter? I'm trying! I just signed up this morning and so looking for twitter pointers. Right now I've got one follower. It's Barack Obama! I guess things have slowed way down since the elections because I got a notice that he was following me about 30 minutes after I signed up to twitter. How's that for big brother watching over your shoulder!

Anyway, I'm serious. My Twitter handle is MaryShelsby. Real creative, huh? Look me up. Follow me. Better yet, lead me because I don't know what the heck I'm doing!

Got to run. Doing an open house in Webster today. Stop by if you get chance. I'll be at 1175 Channing Woods Dr. Here is a list of all the opens in Webster today: Webster Open Houses 11/23/08


Stay Warm!!! It feels like February out there!

A Winter Blanket

Some of my least favorite words in Rochester are "Lake Affect!" Well, we've had some lake affect over the past few days which left a nice blanket on Nathaniel Rochester. Photo taken at the Sculpture "Reflecting," located at South Avenue and Alexandria Streets, in the South Wedge.

For more information about Nathaniel Rochester and his interesting life, go to: http://en.wikipedia.org/wiki/Nathaniel_Rochester

Difficult Economic Times

Usually, I can hardly wait to check my e-mail. You might say I'm an e-mail-holic! But it seems that in the past few weeks, I've found more bad news e-mails than good news e-mail. And pretty much all of the bad news has to do with employment, or more accurately, lack of it. All the scary news on television starts to hit home when you hear from a recent client that they no longer have a job or from another that is concerned about the stability of the company he works for. One client I'm very worried about. She is a CPA with excellent experience in the non-profit sector...if you know of an employment opportunity, please let me know so that I might pass the job lead on to her.

Rochester's real estate market has slowed down pretty dramatically. I'm still looking for my first November sale, and so if you know someone looking to buy or sell real estate let me know. I've had plenty of idle time on my hands to dream up interesting thank you gifts for your referrals. :-)

Home are still selling in Rochester. I did a quick check of the MLS, and there has been 841 single family homes put on the market since November 1. Of those listings, 31 have gone pending in the first 17 days of the month and two new builds have have already closed. In addition, 2 of the properties have been withdrawn from the market. That means there are 806 fresh listings out there and one of them could be just perfect for you!

M&T Bank Offers Up to $7500 for First Time Home Buyers!

Usually, the first home is the most difficult to buy. In most cases, you must still pay rent while trying to pull together the funds needed for closing costs and down payment. Well, M & T Bank has a very nice program to help low and moderate income buyers save for a down payment.

The M & T First Home Club is a savings plan in which participants must make a monthly deposit into a M & T savings account and the bank will match those funds $4 for every dollar deposited up to $7500! The program is a 10 month to 24 month program and participants must also participate in HUD approved homeownership education program. Many of the education programs also provide credit counseling and so this could be a good option for a potential homeowner that needs some time to clean up their credit report. There are income requirements to participate in the program. For this program, a first time home buyers is defined as someone who has not owned a home for the past three years.

If you know someone that might be interested in this program, have them call me. My cell phone is the best way to reach me: 414-5513

When Things Don't Work Out

One of the very best things about being a real estate agent, is turning over the keys to excited buyers at closing. There is always such optimism about the new beginning.

But sometimes things don't work out to be happy ever after, especially in today's economic climate. I just noticed a listing for a house I just sold a couple of years ago. It sold for $127,500 but is now being offered at $114,000 subject to short sale (the bank agreeing to a shortage.) This is sad for those buyers but could be a good opportunity for the new buyer. If you are interested in a large split level on a very quiet cul de sac in West Irondequoit, check this out and give me a call Rochesters Best Homes.com.

Hopefully the new lending guidelines will keep history from repeating itself.

Speaking of lending, big news today is that rates have dropped significantly. There are many good programs out there, especially for first time homebuyers including the $7,500 tax credit. If you know anyone on the fence about buying, have them call me today. 585-414-5513

Please Vote!

To watch the media today, it's easy to conclude that the next president has already been chosen. But in the last few weeks I've asked hundreds of individuals if they knew who they were voting for and many, perhaps even most, were still undecided.

I've found a web site that takes personality, race and even Saturday Night Live out of the mix and instead focuses on the issues. You answer 12 questions on the issues and the site determines how the candidates stack up on the issues that are most important to you. Check it out. And even if you don't, please go vote today. Select a Candidate Quiz

Rochester Foreclosures

Last week I showed two properties back-to-back that were listed as potential short sales (the bank agreeing to taking less than owed, i.e., shortage) but when I arrived both had bright "Winterized" caution stickers and duct-taped toilets that indicate foreclosure. So I was surprised when I got an e-mail stating that in the state of New York, foreclosures are down 10 percent in the third quarter that just ended September 30th.

So how does Rochester stack up with the rest of the country in foreclosures. I found a cool map on the internet that paints a pretty vivid photo: Foreclosure Map According to this map, New York state is in the orange, or a foreclosure rate of 1 in 1,200 homes. That's not too horribly bad compared to states like California, Nevada, Missouri and Florida with rates of 1 in 150! Unfortunately, Monroe County doesn't fair as well as the state. Currently, 1 in 600 homes are in some state of foreclosure with some of the large pockets in Rochester's 18th and 19th Wards with rates at the 1 in 150.

The bottom line is we have a serious situation with foreclosures. In fact, the state of New York has enacted a law that requires lenders to wait 90 days before starting foreclosure proceedings.

There are organizations that can help if you are facing a possible foreclosure. The most important advice is talk to your Bank! Avoiding the situation will only make matters worse. Do not just desert your property. If you remain there and maintain it, the bank is more likely to work with you. And call for help. The Housing Council provides FREE foreclosure prevention counseling simply by calling 585-546-3700 Ext. 3015.

And if you are interested in purchasing foreclosures, take a peek at my post from last December: Buying Foreclosures Yes, there are some good deals out there but you need to keep a few precautions in mind when shopping for foreclosures.

I'm a optimist by nature. We are in a difficult economic climate right now but it is temporary. Soon real estate will be fun again.

Have a super Halloween!

I'm in the Capture Rochester Book!

Maybe you got an e-mail from me asking you to vote for my photos. Maybe I tried to bribe you with coffee and asked you to vote for my photos. Or maybe it was the tears as I pleaded with you to vote for my photos. Whatever it was, it worked because not only is one of my photos included in the Capture Rochester Book but it also won a People's Choice Award for being one of the top 25 photos in the book. I'm so excited!!

The book is beautiful and probably 95% of the photography is better than mine so it's pretty shocking to get the award. The whole concept of the book is pretty amazing. They asked the general public to submit photos and 1,166 people submitted nearly 25,000 photos. Then they asked the public to vote "yay" or "nay" for the photo and the received more than 1.5 million votes! Isn't that incredible. Any way, if you'd like to order a copy, go to http://www.capturerochester.com/

Say Somthing Nice

It's been tough to blog lately. I'm a firm believer in the saying that if you can't say something nice, don't say anything at all. So I've been silent. There is not much nice to say about the local real estate market right now.

I've got clients, mostly buyers, but they just are not finding anything to buy. It seems that with all the doom and gloom in the news, sellers are not selling unless they absolutely have to. Latest stats out show that the number of local listings is down by more than 10 percent.

Good houses are still selling quickly. In at least 4 occasions during the past six weeks, I've had buyers not quick enough on the draw. One agent told me yesterday that she wrote five offers in October but four of them didn't come together, some due to mulitple offers. So if you are thinking about selling in this market, it is esential that you de-clutter, clean and be up to date on all maintence. Then price it right and it will sell! (If you are thinking of selling, call me and ask about my staging offer.)

Banks are giving mortgages but you've got to have decent credit. I've had a couple of buyers with scores below 500 wanting owner financing. Guess what? Owners check credit as well. Now, more than ever before, Americans should pay their bills on time and make strides to get out of debt. Ever hear of a Budget? It's time to adopt one and stick to it.

I will get back to blogging, I promise! I appreciate the e-mails asking if I'm okay. And I guess there has been one very nice side to the current real estate market, I've been able to spend more time with my husband and enjoying photography and other hobbies! Have a fun and safe Holloween!

Yes, There Still Are Mortgages Available in Rochester!!!!

I know that this mornings headlines scream that the credit crunch hits local, but after surveying several banks and mortgage brokers, I've learned there are still mortgages available in Rochester! In fact, you don't need perfect credit either. FHA insured mortgages are still available for individuals with a credit score as low as 580 with 2.25% down payment!!! Minimum down payments will increase January 1, 2009 but for the time being you only need two and a quarter percent down.

Conventional financing is still available with a 5% down payment. Rates are based on credit scores with buyers having a score of 740 or better earning the best rates.

Please, please, please if you know someone thinking about purchasing real estate, encourage them to call a bank or mortgage broker and not believe everything they hear at the gym or golf course. There is a ton of bad information out there!

I Feel Like I'm 16 Again.

When I was 16, it seemed like the whole world evolved around the phone. There were no e-mails or text messages. In fact, there were no cell phones and instead of voice mail, there were busy signals or no answers. As a result, there were many hours spent fretting, waiting for the phone to ring.

Well, I'm feeling like I'm 16 again. I didn't sell a single house in September and I've spent many hours fretting, waiting for the phone to ring. I only wish I still looked like I was 16!

I don't think I'm alone in this real estate market. This morning, the MLS reports over 400 expired listings in the Rochester market. I don't normally count the number of expired, but there were too many not to notice today.

What Do You Think? A Quick Survey about Rochester Real Estate.

Blogging is all about telling you what I think but for a moment I'd like to switch roles. I'd like to know what you think. The news, as usual, is full of doom and gloom and is reporting an economic crisis. Are you feeling an impact from the economy and is it impacting your decisions about real estate? I've put together a quick and unscientific survey about the 2008 Rochester Real Estate Market. If I get enough responses to make it worth while, I report on them in a future blog post. So please, give me a moment of your time to take this survey.

http://www.polldaddy.com/s/B096E19ACDDE23FD/

By the way, we went out to dinner last night and the place was packed. In fact, as we were leaving there was a line of people out the door and along the front of the building.

Rochester River Walk

I set a goal this year to walk the entire Riverwalk, a 15 mile urban trail that starts at the Port of Rochester and runs south along the Genesee River to Genesee Valley Park. I've done numerous mini trips and have yet to see the entire thing, but I got to tell you it is TREMENDOUS. The walk includes a lighthouse, three waterfalls, numerous historic districts, the Erie Canal aqueduct, many parks, sculptures and more. May favorite part has to be Turning Point Park.

The slide show below is a work in progress. Check back often as I will update the slides as I complete the trail.

FHA Changes Rules on Buying a Second Property!

I've worked with many a first time homebuyers that have long term goals of building a portfolio of investment property. Often they start with a starter home with plans to stay there for just a few years. As they get more established in careers, they plan to buy a bigger and better home but retain the starter home for rental income. Well, that scenario is about to become a whole lot more difficult to pull off.

Labeled 'Buy and Bail' FHA lenders and other mortgage providers will not provide funding to homeowner that have vacated a principle residence to buy a new residence unless the homeowner is taking a new job or is transferred in an excising job and the new work location is not a reasonable commute. As part of the conditions for the new mortgage, the landlord will need to produce signed leases (of at least one year after the loan is closed!!) as well as proof of security deposits and first months rent. The only other exception is if the owner has at least 25% equity in the property.

These changes in regulations were necessary because of problems in other parts of the country. Homeowners were vacating their existing principle residence and purchasing new residences to either take advantage of home buying opportunities due to stagnant markets or to relocate closer to work due to the rise price of gas. Fortunately (or unfortunately if you are a bargain hunter), Rochester's property values has held steady and it is consider one of the easiest cities for commuting. Nevertheless, these changes are nation wide and Rochester homebuyers will need to abide by them.

Investing in Rochester

With all the turbulence in the stock market the past few weeks, I'm starting to hear from investors again! As one client put it yesterday, he's losing money in his 401K but seeing a 20% return on his city of Rochester rental properties. He wants to buy at least one more property before the end of the year.

What is nice about this particular client is that he knows that rental properties do not take care of themselves. When he purchases property, he budgets for both improvements and repairs and he collects his rents in person so that the maintenance stays top-of-mind. On his days off, he cleaning gutters, making roof repairs, painting trip or doing landscaping. As a result, not only is he collecting good rents but his properties are appreciating at above average rates.

All to often, landlords believe their biggest chore is to go to the bank and cash rent checks. It is refreshing to work with a landlord that understands the responsibility (and rewards) of taking care of their property.

Fannie and Freddie Under Control

What does the news about the Federal Government takeover of Fannie Mae and Freddie Mac mean to Rochester area home buyers and sellers? The biggest immediate news is a significant drop in mortgage rates.

Home buyers Kerry Ryan and Joel Jensen have an accepted purchase offer on a property with a scheduled closing of October 15. Their inspections are done and mortgage commitment received two weeks ago. Today, they negotiated a new mortgage a .50 point drop in interest rate! That equates to a savings of approximately $30 a month off the monthly payment!

If you are currently under contract for the purchase of a property, call your lender tomorrow morning to see if you qualify for a rate reduction. These better deals are reserved for buyers with the best credit scores, generally 700 or better. And if you are in the process of shopping for property, consider getting re-qualified as a lower interest rate may qualify you for a larger loan amount.

Is this the end of the downturn of the local real estate market?  I doubt it, but it sure can't hurt!

The Real Estate Dog

I lost my business partner this week. Tasha, our beloved Lab and Rottweiler mix, loved to sleep in my home office and so we nicknamed her "The Real Estate Dog." And she was so attuned to my routines that as I would prepare to leave for a business appointment, she would plant herself at the back door, wag her tail and plead to go with me.

"No, Tasha, I'm not selling dog houses today. You'll going to have to stay home," is what I'd say to her almost every day. And when I came home, she was always excited to see me, whether or not I got the listing or made the sale.

She was such a focus of our daily routine, that her passing has left a huge void. The grieving process is particularly painful right now. And so if I'm slow to return your call or respond to your e-mail, please understand I'm not myself right now.